CNBC-TV18’s Nigel D’Souza caught up with Neeraj Singhal, MD of Bhushan Steel to discuss the minute details on the original debt taken, the ordinance and why did the asset turn into a distressed one.
In an interview to CNBC-TV18, PK Singh, Chairman of Steel Authority of India (SAIL) spoke about the latest happenings in his company and sector.
The Steel Ministry has asked the Steel Authority of India (SAIL) to evaluate taking over Monnet Ispat, sources close to the development told CNBC-TV18.
Speaking to CNBC-TV18 Chairmain of Steel Authority Of India PK Singh says that the company is looking to increase its production target. Speaking exclusively to Anshu Sharma, he adds that the steel sector is in a challenging situation for the last 2 years and at the company level also SAIL is facing the challenge of high employee cost.
On February 5, the government imposed minimum import prices (MIP) on steel products for a period of six months in a bid to stop the deluge of cheap imports.
In an interview to CNBC-TV18, Narendra Kothari, chairman and managing director, NMDC says the company has lowered prices from Rs 3600 to Rs 1500 per tonne.
Sundararajan says state-owned steel firm SAIL's losses will start reducing once the company's expansion plans are completed and it is able to achieve economy of scale.
In an interview to CNBC-TV18, Mitra discussed a whole host of issues: the state's economy, policy and well as the TMC government's stand on contentious issues such as the land bill.
SAIl‘s current gross debt stand at around Rs 21,000 crore and the company expects its capacity to reach 18.5 mt by FY14-end.
Uttam Galva steel is hopeful of an improvement in the ferrous sector's performance going forward. It is also positive on the merger of Shree Uttam Steel and Power with Uttam Galva.
SP Tulsian of sptulsian.com says,â€ I think the government will now be happy to expedite the process of divesting their residual stake in HZL as well as in Balco.â€
CS Verma, chairman, SAIL, says increase in steel prices were in line with increase in international prices.
CS Verma, CMD, NMDC & SAIL, says that the company has set a production target of 27.4 million tonne for FY14, which indicates minimal growth going ahead.
Steel Authority of India (SAIL) expects its divestment programme to be completed by FY13 itself. Currently, the government holds 85.82 percent in the company and it will divest around 10.82 percent.
CS Verma, Chairman of SAIL and NMDC said iron ore pricing is dynamic in nature and the pricing policy is governed by the board taking into consideration the prevailing market condition, market prices and the demand/supply position.
Hindustan Copper plunged 18% in early trade today after the Government set the floor price for its offer for sale (OFS) at a steep discount to the current market price. In an interview to CNBC-TV18, Prithvi Haldea of Prime Database says he is happy that the Government‘s divestment plan has finally begun.
In an interview to CNBC-TV18, Ankit Miglani, deputy MD of Uttam Galva said that weak demand situation from automobile sector, white goods and construction has severely affected steel prices.
Nirupender Rao, chairman of Pennar Industries Limited which sources steel from JSW talks to CNBC-TV18 of the difficulties and the way ahead for the company.
In an interview with CNBC-TV18, Sajjan Bhajjanka, MD, Century Plyboards spoke about the latest happenings in the company and the road ahead.
Dharmesh Mehta, Enam says, divestment targets are looking realistic. “I am very confident that it will be achieved,” he adds.
In an interview with CNBC-TV18, CS Verma, Chairman of SAIL said the company has comfortable inventory of coking coal currently. However, he expected part of margins to be affected due to high input costs.